Apple Inc. has reached another remarkable milestone in its history as its market capitalization closed above $3 trillion for the first time ever. On Friday, the tech giant’s shares climbed approximately 2.31%, reaching a new high and surpassing the required price of $190.73 to achieve this significant feat. According to the latest share count reported by CNBC, Apple became the first company to hit a $3 trillion market cap during intraday trading in January , but it failed to sustain that level by the market close.
This achievement reinforces investors’ unwavering confidence in Apple and its diverse portfolio of products and services, despite the company’s warning in May that its current quarter revenue was expected to decline by about 3%. Throughout a year marked by turbulence in the technology sector, Apple has emerged as a shining star. Tech giants have been emphasizing the need to “do more with less” and have resorted to laying off thousands of employees, but Apple continues to stand out.
“The Apple bears and skeptics continue to scratch their heads as many have called for Apple’s ‘broken growth story’ this year in a tougher backdrop, to which we firmly believe the exact opposite has happened with Cupertino heading into a massive renaissance of growth over the next 12 to 18 months,” commented Dan Ives, a senior equity research analyst at Wedbush Securities, in a note on Friday.
Ives further added, “In our opinion, the Street has severely underestimated the massive installed base upgrade opportunity around iPhone 14 and now a mini super cycle iPhone 15 ahead with roughly 25% of Apple’s golden customer base not upgrading their iPhones in over 4 years.”
Apple’s stock has been on an impressive upward trajectory, with shares up approximately 49% year to date. This remarkable performance can be attributed to multiple factors, including strong sales of its flagship product, the iPhone, the expansion of its services segment, and the company’s ability to adapt to changing market dynamics.
The global demand for iPhones has remained strong, and Apple continues to innovate and release new models with enhanced features and capabilities. Furthermore, the company’s services division, which includes the App Store, Apple Music, iCloud, and Apple Pay, has experienced substantial growth and has become a significant revenue driver. The introduction of new services like Apple Fitness+ and Apple Arcade has also contributed to the company’s overall success.
Apple’s ability to navigate challenges and deliver consistent growth has solidified its position as one of the world’s most valuable companies. With its vast customer base and loyal following, the company has proven its resilience and ability to capture new market opportunities.
While some may have doubted Apple’s growth story, its recent market cap achievement serves as a testament to the company’s ability to exceed expectations and overcome obstacles. As the company enters what many analysts predict to be a renaissance of growth, Apple’s influence in the technology sector is set to endure and thrive, ensuring its place at the forefront of innovation for years to come.
In a recent report released by the World Bank, East Asia and Pacific (EAP) economies are showcased as beacons of growth, surpassing global averages. However, the region faces impending headwinds, notably from China, casting a shadow over its growth trajectory for 2024.
The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they might not be following a new law designed to promote fair competition in the digital market.
Google Chrome is on the brink of initiating a seismic shift that threatens to reshape the very foundation of the modern internet. The imminent demise…
In a highly anticipated market debut, Reddit stock took off, closing its first day of trading with a staggering 48% surge from its initial public offering (IPO) price of $34 per share. The social media giant’s stock concluded the day at $50.44, propelling its market capitalization to over $8 billion.
In a significant move in Vietnam’s corporate landscape, Vingroup, the country’s largest conglomerate, has completed the sale of a 41.5% stake and other assets in its retail arm, Vincom Retail, for a staggering $1.6 billion. This transaction ranks among the largest mergers and acquisitions (M&A) deals in Vietnam in recent years, underscoring the dynamism of the country’s economy and corporate sector.
The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery is poised to be profound. Leveraging AI’s capabilities to connect, analyze, and predict based on operating room data holds the promise of enhancing surgical efficiency and clinical decision-making. Recognizing this potential, NVIDIA has partnered with Johnson & Johnson MedTech to explore new AI capabilities within the realm of surgery, with the goal of advancing the company’s connected digital ecosystem for surgical procedures.
Apple is reportedly in discussions with Alphabet, Google’s parent company, regarding the licensing of Google’s “Gemini” artificial intelligence (AI) training model for integration into iPhones.
An Illinois jury has delivered a significant verdict in a case involving Mead Johnson’s Enfamil baby formula, ordering the company to pay $60 million to the mother of a premature baby who died from an intestinal disease after consuming the formula.
In the fast-paced world of software development, innovation is the name of the game. Cognition, a leading tech company, has introduced a groundbreaking solution that promises to transform the industry as we know it: Devin AI, the world’s first AI software engineer. Devin AI is not just another tool in the developer’s toolbox; it’s a game-changer that leverages the power of artificial intelligence and machine learning to automate coding tasks and streamline the development process.
When it comes to acing a job interview, there are certain tactics that can help you stand out and impress prospective employers. From showcasing your passion for the role to demonstrating problem-solving skills, there are plenty of strategies to employ. However, it’s equally important to be mindful of phrases that could raise red flags during the interview process.
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Cultural differences between the East and the West
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Vietnam received recognition in the 29th World Travel Awards in numerous categories
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Vietnamese dishes that fascinate foreigners
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First NFT vending machine in the world is now operational in New York
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The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
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